Talking about New Economic Opportunities in China | Chairman of the Chamber of Commerce of the South Asian Association for Regional Cooperation: China and South Asia have enormous potential for mutually beneficial cooperation | South Asia | China
Kunming, August 18 (Xinhua) - Mohammad Jasim Udin, Chairman of the Chamber of Commerce of the South Asian Association for Regional Cooperation, stated in an interview with Xinhua News Agency reporters during the 7th China South Asia Expo in Kunming that there is enormous potential for mutually beneficial cooperation between China and South Asia. He hopes that both sides can find new trade growth points and provide more cooperation opportunities for Chinese and South Asian enterprises.
This year's South China Expo will be held in Kunming from August 16th to 20th. According to data provided by the Ministry of Commerce of China, the total trade volume between China and South Asian countries was less than 100 billion US dollars when the first South China Expo was held in 2013. In 2022, the total trade volume between the two sides has approached 200 billion US dollars, with an average annual growth rate of 8.3%. In addition, China is a major trading partner of South Asian countries and has been the largest trading partner of countries such as Pakistan, Bangladesh, and Maldives for many consecutive years.
As of now, China has invested nearly 15 billion US dollars in South Asia and completed engineering contracting with a turnover of over 200 billion US dollars. The China Pakistan Economic Corridor project is steadily advancing, with Hambantota Port and Gwadar Port driving industrial upgrading in their respective countries. Multiple cooperation projects have been completed, including the Padma Bridge in Bangladesh and the Bokra Airport in Nepal, making tangible contributions to the development of South Asian countries and regional connectivity.
This is an aerial photo taken on June 3, 2022, of the Gwadar East Bay Expressway in Balochistan Province, southwestern Pakistan.
Uding quotes the Chinese proverb "It's better to be a close neighbor than a distant relative" to describe China's relationship with South Asian countries. "We adhere to the principle of mutual benefit and hope that China will continue to maintain an open market." He said that although South Asian countries are currently facing a series of financial and commercial challenges, they still hope to find new growth points with China on the basis of mutually beneficial cooperation.
Udin said, "We have been committed to exploring more opportunities for cooperation.". Based on the long-standing historical connections, South Asian countries and China should deepen cultural exchanges in the context of mutual learning and inclusiveness in the future.
He stated that South Asian countries have unique tourism resources and enormous potential for China. Both parties can implement more flexible visa systems in tourism, commerce, and other fields to further promote regional exchanges.
On August 16th, staff livestreamed sales in the Afghanistan exhibition area of the 7th China South Asia Expo.
Udin believes that the global and regional landscape is undergoing unprecedented changes, and South Asian countries and China should cooperate closely, leverage the advantages of traditional friendship and geographical proximity, fully develop economic complementary cooperation, and continue to expand cooperation areas.
